Midway reveals mixed-use plans for former ConocoPhillips campus in Houston’s Energy Corridor

Houston-based Midway has revealed plans to redevelop the former ConocoPhillips headquarters campus in the Energy Corridor District into a mixed-use property called Watermark District at Woodcreek.

The 70-acre site will include new Class A office and multifamily space, high-end retail and restaurants, and boutique hotel opportunities, the real estate investment, development and management firm announced Oct. 20. Construction is expected to begin in the first half of 2023, and the project team includes Houston-based OJB Landscape Architecture, Dallas-based Jacobs Solutions Inc. (NYSE: J), Houston-based design and architecture firm PDR and other companies.

When complete, Watermark will offer 650,000 square feet of Class-A office space with an abundance of natural light, flexible floor plans and direct access to surrounding mixed-use amenities. There will also be a repurposed innovation hub to help attract cutting-edge companies.

Some of the existing buildings will be turned into luxury multifamily apartments and a boutique hotel with high-end accommodations catering to both short business trips and extended stays.

Midway is currently in discussions with several potential operators for the campus’s existing 100,000-square-foot wellness/fitness facility. Updates are also planned for the facility, featuring a full-sized basketball court, Olympic-size saltwater swimming pool and soccer field. The campus also features on-site walking and biking paths plus access to Terry Hershey Park’s 12.5-mile network of trails along Buffalo Bayou.

“At Midway, we are passionate about building remarkable places that endure, and sustainability is at the forefront of our approach,” said Brad Freels, chairman and CEO of Midway. “Watermark is a prime example of our future-oriented mindset. It’s an urbanization of the suburban experience in one of the fastest growing regions in Houston. We look forward to introducing a thoughtful and environmentally friendly mixed-use environment that not only sets the stage for future growth and innovation in the area but also brings the west Houston community together for generations to come.”

One unique sustainability feature will be a first-of-its-kind wastewater management system. Midway partnered with Durham, North Carolina-based 374Water Inc. (Nasdaq: SCWO) to provide the system with its AirSCWO technology, which will turn wastewater and food wastes generated on property into clean water, energy and minerals that can be reused within the district.

Other sustainability efforts include preserving more than 500 existing trees and the surrounding landscape. There will be more than 20 acres of green space and 9 acres of lakes. A new urban grid system will increase connectivity throughout the district.

“Watermark will enhance the experience of those who work, live, and visit the Energy Corridor District by creating a thriving walkable destination that caters to all,” said Elijah J. Williams, the Energy Corridor District’s executive director. “The innovative, environmentally sustainable features Midway has planned for Watermark are consistent with the values of the [Energy Corridor] District and our major employers, who are leading the global energy transition. An amazing example of the future of energy for commercial properties, Watermark creates a spark for the Energy Corridor District’s continued growth.”